Asos doubles down on Black Friday after profit dives 68 per cent October 16, 2019 Asos has vowed to boost its Black Friday discounting this year after a “disappointing” attempt in 2018 weakened the fashion retailer’s bid to attract new customers. The online marketplace offered a 20 per cent discount to consumers on the annual shopping event last year, however today the firm admitted its offer had been “uncompetitive” compared [...]
Global online tax on tech giants ‘in our grasp’, says Rishi Sunak March 23, 2021 Rishi Sunak has today said a global online tax on internet giants like Amazon and Facebook is “in our grasp”. Sunak said he was “very keen to see a resolution” on the issue, with the chancellor making it one of his top three priorities in G7 meetings this year that are hosted by the UK. [...]
Exclusive: Sustainable targets are everyone’s responsibility, says festival veteran September 21, 2021 The founder of a festival focused on sustainability and innovation in fashion has said customers and businesses need to join forces to tackle fast fashion. The organisation Fashion District aims to bring businesses together, attract global talent to East London and accelerate growth in manufacturing in the area. From September 22 to 26, Fashion District [...]
Debenhams to reopen stores for final sale ahead of move to online April 8, 2021 Debenhams is set to reopen its stores next week to complete its final closing down sale, as the store moves online. The sale, on 12 April, forms part of the high street retailer’s final stock liquidation process and will continue until the stock is fully cleared. “This is the last chance for customers in England [...]
Ex-CEO of Coca-Cola EU and founder of Café Rouge join Deliveroo’s board April 28, 2021 Deliveroo has confirmed a board shuffle today by hiring two new non-executive directors, to help keep up with its growing partnerships. Dominique Reiniche and Karen Jones are set to join the board, just as the company is to ramp up its online delivery capabilities with Waitrose. “They join at an important time for Deliveroo as [...]
Calls to ‘send Philip Green the bill,’ as pension lifeboat fund begins Topshop assessment February 4, 2021 There have been fresh calls for the government to step in and demand retail tycoon Philip Green to plug Arcadia’s pension deficit, as the pensions lifeboat fund begins assessing the scheme. Earlier this week online retailer Asos said it had bought Topshop, Topman, Miss Selfridge and HIIT brands from Arcadia, which fell into administration in [...]
Arcadia staff gear up for legal action against Philip Green’s retail empire February 9, 2021 Dozens of ex-Arcadia staff have vowed to take legal action against the retail consortium, after it became clear their jobs would not be saved when the Arcadia brands were sold. Arcadia fell into administration in December, becoming the biggest high street casualty of the Covid-19 pandemic. Earlier this week online fashion giant Boohoo announced it [...]
Asos prepares job cuts as sales slump July 7, 2019 Around 100 jobs are at risk at Asos’s London headquarters as the online retailer battles with slumping sales. The fast-fashion brand is consulting on a round of redundancies, which will mainly affect the marketing department, the Sunday Times reported. Read more: Eurozone retail sales see suprise fall in May Asos issued a warning in December, [...]
Retirement property developer McCarthy Stone secures £200m to expand rental offering April 8, 2021 Retirement property developer McCarthy Stone has secured £200m in financing to expand its rental portfolio. The finance will be provided jointly by John Laing and Macquarie Capital, and will help the UK developer expand its rental properties to “a growing aging population”. Brigid Investments Limited, a special purpose vehicle formed by John Laing and Macquarie [...]
The retail behemoths of the future will be the ones crafting a seamless online platform April 3, 2021 A casual observer of the much publicised takeovers of high street behemoths like Debenhams by online retailers such as Boohoo would be tempted to conclude that having an online presence is the swiftest hack for a brand to succeed in the current retail climate. But that is not the case. The UK may have leapfrogged [...]